Five months into 2023, more than two dozen shares are down over 20% on the JSE. Much of this decline has come in recent weeks as local equities find themselves under enormous pressure. Selling by overseas investors has been prevalent for a number of months already, with net foreign sales totalling nearly R30 billion for the year so far. In the whole of 2022, net selling was R84 billion.
Read: Food shortage in SA not so far-fetched – PnP CEO Transaction Capital takes 48% profit hit after downsizing taxi business This is even before factoring in the mess at Transnet, which is effectively forcing companies to shift transport of commodities from rail to road . Major platinum group metal producers Impala Platinum and Anglo American Platinum are also down by more than 20% in 2023.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Moneyweb - 🏆 5. / 77 Read more »
MARKET WRAP: JSE joins global jitters over US debt voteRand remains under huge pressure as US House of Representatives prepares to vote on the deal to increase the government’s spending cap
Source: BDliveSA - 🏆 12. / 63 Read more »